Twitter reportedly set to accept Musk's $43B offer

Twitter is poised to agree to Elon Musk's $43 billion takeover offer, according to a number of reports. The transaction – which would take the social media platform private – could be announced publicly as early as Monday, after a meeting of Twitter's board of directors.

Reuters, the Wall Street Journal and other publications, citing unnamed sources, reported the development Monday morning.

Figure 1: (Source: Alexander Shatov on Unsplash)

According to the reports, Twitter had been prepared to reject Musk's takeover offer early last week, shortly after he disclosed his plans. However, Twitter reportedly changed its position after Musk disclosed late last week that he had arranged $46.5 billion in financing for the transaction. Reuters reported that Musk – who is the world's richest person, according to Forbes – is moving to buy Twitter in a personal capacity and Tesla is not involved in the deal.

Musk has described his offer of $54.20 a share as his "best and final." Twitter's shares have jumped on the offer but are significantly lower down from their $70-per-share 12-month high point of last summer.

Musk has argued that he wants to improve Twitter's position as a platform for free speech. He also wants to make more concrete changes, such as allowing longer tweets. But if Twitter does accept Musk's bid, the move would undoubtedly face government scrutiny, complicated by Musk's involvement in his other companies including Tesla and SpaceX.

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— Mike Dano, Editorial Director, 5G & Mobile Strategies, Light Reading | @mikeddano